New Delhi, Jan 13: Ramalinga Raju's confession about Rs 7,800 crore fudging have opened a Pandora's Box into the workings of Satyam computers now. But the Income Tax Department was behind Raju since 2002, sources from media said.
In 2002, the Income Tax Department had investigated several Satyam offices and had found that Ramalinga Raju had opened multiple benami accounts through relative and friends.
Accounts showed Rs 29.5 crore of fixed deposits then. The funds were frequently used for trading in Satyam shares, flouting the insider-trading norms. However, State Bank of India has revealed to a news agency that the bank has an outstanding exposure of nearly Rs 500 crore to Maytas Infrastructure.
Now doubts persists that banking sector in India may have a role in the largest corporate fraud of India.
OneIndia News (With inputs from Agencies)